new Delhi. After two consecutive days of increase in prices of petrol and diesel, the brakes broke on Wednesday, but in the international market, crude oil continued to rise for the second consecutive session. Petrol prices are currently at the highest level in the country and inflation in both vehicle fuels may increase further due to the rise in crude oil. Because India imports most of its oil needs. In the US, the oil boom is seen in anticipation of a big stimulus package going forward if the newly elected president takes power, as this may increase the demand for oil. At the same time, the reduction in oil stock may also be a reason for the estimate.
According to the website of Indian Oil, petrol prices in Delhi, Kolkata, Mumbai and Chennai remain the same at Rs 85.20, Rs 86.63, Rs 91.80 and Rs 87.85 per liter respectively.
Diesel prices too remain unchanged at Rs 75.38, Rs 78.97, Rs 82.13 and Rs 80.67 per liter in Delhi, Kolkata, Mumbai and Chennai respectively.
Oil marketing companies raised petrol prices by 25 paise in Delhi, 24 paise in Kolkata and Mumbai, 22 paise in Chennai and 22 paise per liter in Chennai and 25 paise per liter in Delhi and Kolkata while in Mumbai on Tuesday. There was an increase of 26 paise and 24 paisa per liter in Chennai. In the last two days, the price of petrol and diesel in the national capital has increased by 50 paise per liter.
Brent crude, the benchmark crude oil on the international futures market Intercontinental Exchange (ICE), was trading at $ 55.33 a barrel, up 0.84 percent from the previous session in its March delivery contract. Brent crude was up over two per cent in the previous session.
The West Texas Intermediate (WTI) March contract on the New York Mercantile Exchange (NIMAX) was trading 0.87 percent higher at $ 53.44 a barrel from the previous session.
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